DMAR Digest | Week of June 6
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Download Our New App: DMAR Home Kit
Have you taken a look at our new app yet? This is the best way for you (AND your clients) to discover and connect with the plethora of affiliate partners within DMAR. Not only is it convenient, it saves you money with exclusive offers. Whether you’re looking for a roofer, painter or mortgage lender, all of our service providers are trusted Industry Partner members of the Denver Metro Association of Realtors®.
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Apply to be a DMAR Director
Positions begin October 1, 2022. This is a great opportunity to get involved at a leadership level within the Association, as well as take advantage of the chance to proudly represent the interests and concerns of your fellow members. Deadline to apply: 5:00 PM on June 13, 2022. Apply Here
Time to get creative: 3 strategies for finding buyers homes | byline from DMAR CEO Nobu Hata [Inman exclusive content]
Buying a home is hard, but it's not impossible. As a knowledgeable expert with a fiduciary duty to your clients, it's your role to help buyers weigh and evaluate their options Read More
Mortgage rates steady at 5% as housing supply increases
Purchase mortgage rates this week averaged 5.09%, essentially flat from the prior week, according to the latest Freddie Mac PMMS. A year ago at this time, 30-year fixed rate purchase rates were at 2.99%. The government-sponsored enterprise index accounts solely for purchase mortgages reported by lenders during the past three days. Read More
Yun: Appreciation Slowdown Is ‘Inevitable’
Yun says home sellers do need to be realistic with their asking prices, as mispriced homes will linger on the market. A few weeks ago, sellers may have been able to list their homes 20% above what they could have a year ago, but now it may be 10% to 15% above a year ago. “Sellers must clearly recognize that higher mortgage rates are squeezing away some buyers,” Yun says, adding that homeowners are still seeing appreciation nonetheless. Read More
Condo Construction Ramps Up
Just like townhome demand is rising so is condo demand. The first quarter proved to be the best quarter for condo construction since the third quarter of 2008—in about 14 years, according to the National Association of Home Builders. As buyers search for greater affordability, they may be drawn to condos. Still, the median existing condo and co-op sales price was $340,000 in April, an increase of 13.1% compared to a year earlier, according to the National Association of Realtors®. Read More
U.S. Home Prices Rise at New Record Rate, Case-Shiller Shows
U.S. home prices rose again in March even as higher mortgage rates began to bite, leaving prices at all-time highs. The S&P CoreLogic Case-Shiller 20-city price index was up a record 21.2% year over year while the federal government’s price tracker climbed 19% in the same span. The Case Shiller index rose 3.1% in March compared to the prior month. A separate report from the Federal Housing Finance Agency showed a 1.5% monthly increase. Read More
DMAR Real Estate Market Trends Report | JUN. '22
After consecutive months of appreciation, negotiations and bidding wars, modest numbers this month became a sign that the market has returned to a semblance of ‘normal.’ The housing market ended May with 3,652 properties on the market, representing an increase of 448 properties from the previous month, which is seasonally on trend. Closed sales increased 3.75 percent from the previous month, keeping supply and demand relatively balanced. Read More
[INFOGRAPHIC] Market Trends Overview | JUN. '22
Download the June Market Trends Report infographic. This is a great resource to share with your clients and colleagues on social media, your website or via email or even print. Read More
Exciting news coming next week!
Use RElumio™ for your listing and unlock a comprehensive, powerful, digital marketing campaign. Experience RElumio™ for an introductory rate of only $19.99 per listing — a 50% savings off the normal rate! It’s easy, instant and designed to make your brand (and listing) beautiful! Read More
Is the Housing Frenzy Over? | Guest Post
Months of Inventory for May landed at 0.67 percent or 20 days. A balanced market, when supply equals demand, is defined by six months of inventory. Yet, on the street, real estate agents and buyers “feel” like we are headed towards a balanced market. Close-to-list price came in at 105.33 percent, telling us buyers are still paying more than asking on average. If you look at over $1 million homes, those went for 107.12 percent close-to-list, and median days on market was still a hot four days. Read More
Resources & services
Because Price Matters | TOMORROW
Did you know that 37% of sellers had to reduce the list price in order to sell their property? Learn how to price a property right the first time. This course will take you from start to finish with all the tools you need to do a great comparative market analysis (CMA) to evaluate a home's value, how to know your market and so much more. Read More
2022 New Development Insider Hosted by YPN
Don't miss our New Development Insider, a showcase of new development across the Denver metro area including luxury condos, custom single-family homes and everything in-between. Jason Batchelor, Deputy City Manager of Aurora, will kick off the event with an economic update as well as an overview of new-build activity. Read More
Why Do Americans Choose Homeownership?
June is National Homeownership Month! It’s no secret that owning a home is a big responsibility; however, that responsibility is heavily rewarded with coveted benefits. Owning a home has long been seen as a pillar of the American Dream. According to the U.S. Census Bureau, 65.4% of Americans are current homeowners, and when you factor in those who hope to own in the future, it is safe to say the vast majority of American citizens favor this lifestyle. And why shouldn't they? There is pride, security and freedom in homeownership which appeals to core American values. Read More
Blueprint for Homeownership [PDF]
Thanks for helping us make our first-ever Housapalooza a success! This was a great consumer-facing, educational event for first-time homebuyers in metro Denver. Attendees received a digital resource guide with great information and resources. Missed the event but want to view the resource guide or share it with your clients? View/Download the Resource Guide
DMAR Staff is Here to Help
If you are looking to reach a specific department or staff person, please refer to the staff directory here, or contact our main line at 303-756-0553 or email help@dmarealtors.com.
Just for you
Three Tier Benefits | Liberty Mutual
As a member of DMAR, you also gain access to member-only benefits and services from the Colorado Association of Realtors®️ (CAR) and the National Association of Realtors®️ (NAR).
Liberty Mutual is NAR’s exclusive auto, home and renters insurance provider, offering quality coverage, expert advice and special discounted savings of up to 10% for NAR members.
Your Liberty Mutual Benefits Can Also Help Your Clients
The Liberty Mutual Auto Insurance Referral Program™, now available in 40 states, lets you extend to your clients the same auto insurance savings and benefits that you have access to through NAR’s Realtor Benefits® Program. Plus, for every client you refer to Liberty Mutual who completes an auto quote, you receive up to $40.
